Global Solvent Naphtha Market Revenue Reached $7939 Million in 2023

Solvent naphtha is a petroleum fraction mainly used in the production of solvents, fuel additives, and chemical raw materials. Its boiling point usually ranges from 60 to 200°C, depending on its composition and production process.

Based on the different boiling point ranges, solvent naphtha can be divided into low-boiling point solvent naphtha, medium-boiling point solvent naphtha, and high-boiling point solvent naphtha; According to the different sources and components, solvent naphtha can also be divided into straight run solvent naphtha, reformed solvent naphtha, etc.

Application Market Analysis

From the perspective of downstream applications, the application of solvent naphtha involves multiple fields such as paints, coatings, agrochemicals, rubber, resin, printing ink, and industrial cleaning. Among them, the paint and coating fields are the largest downstream application markets. According to our research data, the consumption of solvent naphtha in the paint and coating industry was 3280.5k tons in 2023, accounting for 41.56% of the total consumption.

Global Solvent Naphtha Consumption and Proportion by Application in2023

Applications

Consumption (K Tons)

Proportion

Paints & Coatings

328.05

41.56%

Agro Chemicals

116.66

14.78%

Rubber & Resin

110.35

13.98%

Printing Inks

84.46

10.70%

Industrial Cleaning

73.57

9.32%

Others

76.25

9.66%

Source: www.globalmarketmonitor.com

Overview of Market Development and Analysis of Market Development in Major Regions/Countries
Thanks to the rapid development of industries such as chemical, pharmaceutical, electronics, and fuel additives, the global demand for solvent naphtha is showing a steady growth trend, and the market is also continuously expanding. Data shows that in 2023, the global solvent naphtha market revenue reached $7939 million, and it is expected to increase to $8499 million by 2025.
From the perspective of regional development, there are differences in market performance among different regions. The North American and European markets are relatively mature and the demand is relatively stable; Due to the acceleration of economic growth and industrialization, the Asia Pacific region has become the main driving force for demand growth. Data shows that in 2023, the revenue of the solvent naphtha market in the United States was $2134 million, with a revenue share of 26.88%, making it the largest revenue market in the global solvent naphtha industry; The European market ranked second with revenue of $2094 million and share of 26.38%. The solvent naphtha market in Asian countries such as China, Japan, and India also holds an important position in the global market.
Global Solvent Naphtha Market Revenue Forecast and Market Share by Region/Country 

Global Solvent Naphtha Market Revenue Forecast and Market Share by Region/Country
Source: www.globalmarketmonitor.com

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